River Forest
REAL ESTATE
Howard housing development may feature 40 affordable family units
City officials shared details on the timeline and potential results of a planned affordable housing development on Howard Street at the Eighth Ward meeting Thursday, along with a proposal for designating Evanston’s only public art wall. The city has owned property at 727 Howard St. since 2003. Since then...
Downtown prices are growing slowly across the Midwest — and have decreased in Chicago
Downtown property prices in the Midwest are growing at significantly slower rates than other sections of those cities. And that’s especially true in Chicago. A recent study by PropertyShark isolated price growth in American downtowns from the past decade to determine that, overall, downtown property appreciation has been outpaced by cities at large. This was true in 31 of the country’s 40 largest cities. For context, 10 years ago, that was the case in just nine cities.
Interra Realty Brokers $9.3 Million Sale of 114-Unit Multifamily Portfolio in Chicago’s South Shore and Woodlawn Neighborhoods
CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the sale of a three-building, 114-unit multifamily portfolio on the city’s South Side for $9.3 million, or $81,578 per unit. Two buildings, 7131 S. Bennett Ave. and 1949 E. 73rd Ave., are located in the South Shore neighborhood, while the third property, 6600 S. Ingleside Ave., is in the Woodlawn neighborhood.
Chicago’s long-vacant Spire site will be home to a two-tower residential development
In downtown Chicago, the site of the planned Chicago Spire, at the confluence of Lake Michigan and the Chicago River, has sat vacant since construction ceased in the wake of the Great Recession. In the next few years, the site will be home to a new two-tower residential development, 400 Lake Shore.
Inland Takes Chicago Retail-Focused DST Full-Cycle, Delivers 1.75x Equity Multiple to Investors
Real estate investment manager Inland Private Capital Corporation has sold a retail property currently leased to Best Buy and Golf Galaxy in Downers Grove, Ill., a southwest suburb of Chicago. Inland facilitated the sale of the property on behalf of Downers Grove Retail DST, one of Inland Private Capital’s 1031 investment programs.
CBRE closes 15,473-square-foot office in renovated Canal Station building in Chicago
CBRE has arranged a new 15,473-square-foot lease on behalf of its client, R.M. Chin & Associates, the first lease within the newly renovated Canal Station building at 801 S. Canal St. in Chicago. CBRE’s Bill Sheehy and Brady Wolfe represented the tenant, R.M. Chin & Associates, in the transaction. Telos’...
Becovic Acquires Two Edgewater Multifamily Properties
Becovic Residential, a Chicago-based multifamily owner and operator, has added two apartment communities to its Edgewater offerings. The Winthrop House, located at 5718 N. Winthrop, was purchased for $10.25 million. The Kenmore Commons property, located at 6134 N. Kenmore, was purchased for $7.25 million. The deals were brokered by Interra...
LJC Unveils Renderings of Office-to-Residential Conversion in Chicago’s Loop
Lamar Johnson Collaborative, an architecture firm headquartered in Chicago, has revealed interior renderings of The LaSalle Residences, an office-to-residential adaptive reuse project at 208 S. LaSalle St. in Chicago’s Loop. The renderings represent the first interior images to be released from any of the properties moving forward under the...
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